ASUN Operating Procedure - 10001
Operating Procedure Synopsis
Title: Gift In Kind Donations
Approval Date: 11/21/2016
Revision Date:11/ 4/ 2016
Responsible Officer: Advancement Officer
Responsible Operating Procedure Manager: Advancement Officer
Responsible Departments: Institutional Advancement/Office of the Chancellor/Finance & Administration
A. Purpose
The intention of this process is to standardize the procedures for Gifts In Kind (Non-Cash Gifts) donated
to the institution.
B. Definitions
Gifts In Kind----non-cash donations. These include, but are not limited to art, instructional materials,
equipment, tools, maps, books, sculptures, and furniture.
C. Scope
All ASUN employees.
D. Statement of Authority
Individuals who have the authority/oversight for this process include the Chancellor, Vice Chancellor for
Finance and Administration, and the Advancement Officer.
E. Procedures
All gifts in kind for the benefit of Arkansas State University-Newport shall be reviewed by the ViceChancellor for Finance and Administration in conjunction with the unit designed to receive the gift. Gifts
in kind will be reviewed with special care to ensure that acceptance of the gift will not involve financial
commitments on behalf of the institution disproportionate to the usefulness of the gift. The VCFA will
work in conjunction with the Advancement Officer, departmental personnel, and other needed advisors
to make this determination. Consideration will be given to the cost of maintaining, insuring, and
housing the gift. Gifts must be approved prior to acceptance by any institutional agent.
The steps in this process are as follows:
1. Individual donor makes contact with agent of institution about possible Gift-In-Kind.
2. Institutional Agent informs his/her Cabinet Member and Advancement Officer about possible
donation.
3. In concert with the institutional agent that has formed the relationship with the donor, the
Advancement Officer will initiate communication with the donor as to the composition and intent of the
gift and the needs of the donor in relation to the donation (tax treatment, etc.).
4. Institutional agent and the Advancement Officer provides the details of the gift to the Vice Chancellor
for Finance and Administration.
5. The Vice Chancellor for Finance and Administration, in conjunction with the Advancement Officer and
departmental leadership, makes a determination as to the suitability of the gift and ability to accept the
gift and the proper receipt of the gift (insurance, transportation, etc.). No gifts shall be accepted by any
agent of the institution until clearance has been given to do so by the Advancement Officer.
6. Donor communication occurs dealing with documentation concerning the worth of the gift. It is
incumbent upon the donor to obtain the fair market value appraisal from an agent not connected to the
institution to ensure tax credit.
5. ASU-Foundation is informed by the Advancement Officer of donation in an effort to produce
appropriate tax information for the donor.
6. The Gift-In-Kind is inventoried and is the property of ASUN or Foundation as appropriate.
7. Appropriate recognition of the gift occurs from the Advancement Officer in conjunction with the
Office of the Chancellor.
F. Responsible Officer
Advancement Officer
G. Related Information
None.